All Forum Posts by: Stone Pittman

Hello everyone thank you for taking the time to read my post. I am buying my first property this summer. Either a small multifamily or a good value add single family. I am starting to take more actionable steps such as really analyzing properrather than just looking at them. I understand all the fundamentals of what goes into estimating the ARV (similar bed/bath count, location, sq ft., ect.) but I am struggling with my confidence in this area. Any tips?

@Jay Hinrichs sure it can be a job. It'll take a lot of hard work and time but I believe you know that after all that is said and done you can outsource a lot of the management and responsibilities and be more or less hands off while still receiving the money you need to fulfill your lifestyle. The initial argument stands that real estate is more accessible to everyone than going to college for 4+ years and luckily landing a job at the best tech company out there.

Thank you for this post man I've read this same message in half a dozen diff books but it's always nice to read it again. 

@Chris Seveney  is like to disagree just a bit. Is your friend really financially free? From my understanding financially free means you can be without a job and live the lifestyle you desire. Your friend has a job that he has to continue to go to, without it, and without investing elsewhere, he is not financially free. Also, in order to reach that you need to excel in certain skills, study hard, and go through probably atleast four years of college. Real estate is accessible to anybody. I think it is also worth mentioning that nvidia is one of the top paying tech companies. To get a degree in tech doesn't guarantee you a job there or somewhere else that pays that much. 

The reality is real estate very much can get you to financial freedom. What you're saying that I agree with is that it's going to take time, it won't happen tomorrow. 

I went to my first local conference yesterday! I too am a rookie. It only cost me $20 plus a 90 minute drive but man it was worth it. They have them on the first Tuesday of every month and I am fully committed to attending every single one. I met tons of experienced people who gave me great advice.

@Devin Peterson I would be interested in discussing more. I am getting my first property this summer and if I can't find a duplex in a good area I will settle for a live and flip scenario. 

I feel like you set boundaries rather than limits. Cap them at 67 so they don't set the ac to 60. Cap them at 74 so they don't set it to 80. 

Thank you for the reply and the advice! @Jaron Walling

Hello bigger pockets family! My wife and I are currently saving 15% of our income and will have 12k or so for a down payment on our first house by the time our current lease is up in September. I am aiming towards house hacking a duplex but I want to keep a live in flip in my pocket for a back up strategy. I'm struggling to find content on live and flips and am wondering if anyone has experience in this that would be willing to share. What types of value add were you working for? How was the experience in general? And how did it look at the end of the two years with the tax free benefit? Thank you so much and I hope to talk to yall soon.

Stone Pittman